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To any who might check this ghost-town of a board-
I just read Incyte's yearly report, and have a number of concerns about the newly "restructured" co.; I was wondering what anyone else's thoughts might be.
My first and biggest concern is that Incyte is projecting, in the foreseeable future, to continue net annual losses of around 100 mil. With only around 400 million cash, etc. on hand, this is extremely worrisome.
Number two (and of course, this reflects on number one), at the same time that Incyte is burning through cash, its revenue stream is drastically declining (reflecting both their shift away from being a genomic data company and the current availability of such genomic data).
Finally, Incyte doesn't even have one drug in clinical testing - - I'm talking not even one stinking Phase I trial- - so at best, we're 6 years or so away from launching any drug to market at all. And of course, clinical trials are more costly than anything Incyte is currently funding in their R&D.
So how the hell do they plan on staying financially afloat in the meantime? You got me.
- Aryeh M. Abeles, MD
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